There are two main points to bring away from this chart. The first is that gold has managed to clear a downsloping trend line going back to the its all time peak (in non-inflation adjusted terms). It will tremendously aid the bullish cause should this market close above that line and especially above the $1665 level to end this week.
The second is to note how the market has been recently marching higher along the bottom tine of the pitchfork managing to close each week ABOVE this line since its spring low. This series of higher lows is indicative of a market that is seeing DEMAND arise at a progressively higher price level. That in itself is friendly.